By Patrick O’Grady | Phoenix Business Journal
Salt River Project will be lowering its rates by 1.1 percent starting in May, the result of higher revenues and better sales than expected.
The SRP board approved the price decrease and will put it into place before the summer, when rates and use typically rise.
SRP had about $20.5 million in lower-than-expected costs for its 2013 fiscal year, which ends April 30. Most of the price decrease comes from higher use and sales from its customers, said Aidan McSheffrey, associate general manager and chief financial executive for the utility.
Continued: http://www.bizjournals.com/phoenix/news/2013/04/08/srp-approves-rate-reduction.html
